Family of late billionaire pay tribute to patriarch who built Malaysia’s largest conglomerate

Malaysian billionaire Tan Sri Yeoh Tiong Lay who founded YTL Corporation Bhd died peacefully on Oct 18 aged 88.

Yeoh founded YTL in 1955 as a small construction company and it has since become Malaysia’s largest conglomerate with stakes in technology, hotels, utilities, cement manufacturing and property development.

According to Forbes, Yeoh, who is married with seven children, has a net worth of $2 billion, making him the 7th richest person in Malaysia.

YTL Corp owns PowerSeraya, Singapore’s second largest power plant and co-owns the Eastern Oriental Express, the luxury train that runs from Singapore to Thailand.

In a statement issued on Oct 19, his family member said that they are deeply saddened by the loss of the “head of our family”, reported The Star.

It added: “We are four generations that have had the privilege of enjoying his presence for 88 years and he will be truly missed.”

All his children are involved in the the business with his eldest son, Tan Sri Francis Yeoh Sock Ping, at the helm as YTL Corp’s managing director.

Family members and friends can pay their last respects from 7pm on Oct 19 at 2 Lorong Buloh Perindu 1, Damansara Heights, 59000 Kuala Lumpur.

The funeral will be held on Oct 22 at 10am and the cortege departs for Nilai Memorial Park at noon.